GTO - Invesco Total Return Bond ETF

Fixed Income - International and Global Fixed Income

Product Details

The Invesco Total Return Bond ETF (Fund) is an actively managed intermediate-term bond exchange-traded fund (ETF) for investors seeking monthly income and total return opportunities. The Fund will invest at least 80% of its total assets in fixed income instruments of varying maturities and of any credit qualities.

as of 06/30/2019 06/30/2019

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
Bloomberg Barclays U.S. Aggregate Bond Index 6.11 7.87 2.31 2.95 3.90 2.98
Bloomberg Barclays U.S. Aggregate Bond Index 6.11 7.87 2.31 2.95 3.90 2.98
Fund History (%)
Fund NAV 7.70 8.04 5.02 N/A N/A 5.62
After Tax Held 7.07 5.83 3.40 N/A N/A 4.08
After Tax Sold 4.54 4.81 3.13 N/A N/A 3.63
Fund Market Price 7.82 8.28 5.14 N/A N/A 5.63
Fund NAV 7.70 8.04 5.02 N/A N/A 5.62
After Tax Held 7.07 5.83 3.40 N/A N/A 4.08
After Tax Sold 4.54 4.81 3.13 N/A N/A 3.63
Fund Market Price 7.82 8.28 5.14 N/A N/A 5.63

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

As the result of a reorganization on April 6, 2018, the returns presented reflect performance of the Guggenheim predecessor fund. Invesco is not affiliated with Guggenheim.

as of 06/30/2019

Growth of $10,000

Data beginning Fund inception and ending 06/30/2019. Fund performance shown at NAV.

An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

as of 07/19/2019

Sector Allocation

as of 07/19/2019

Currency Allocation

Quality Allocations as of 07/19/2019

S&P Moody's
AAA : 2% Aaa : 57%
AA : 58% Aa : 2%
A : 9% A : 7%
BBB : 19% Baa : 17%
BB : 6% Ba : 4%
B : 1% B : 2%
CCC : 0% Caa : 0%
Not Rated : 6% Not Rated : 10%

Cash is excluded from the credit rating quality allocations table.

as of 07/19/2019 Maturity

Years % of Fund
0 - 1 years 1.42
1 - 5 years 21.60
5 - 10 years 23.75
10 - 15 years 16.69
15 - 20 years 6.27
20 - 25 years 1.35
25 years and over 28.92

as of 07/19/2019Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
United States Treasury Note/Bond 3.00% 02/15/2049 N/A AA+u/Aaa 6.58%
CBOT 2 Year US Treasury Note Future 09/30/2019 N/A NR/NR 6.58%
CBOT 10 Year US Treasury Note 09/19/2019 N/A NR/NR 6.18%
CBOT 5 Year US Treasury Note 09/30/2019 N/A NR/NR 6.16%
United States Treasury Note/Bond 1.75% 07/15/2022 N/A AA+u/Aaa 6.08%
United States Treasury Note/Bond 1.75% 06/30/2024 N/A AA+u/Aaa 5.73%
United States Treasury Note/Bond 2.38% 05/15/2029 N/A AA+u/Aaa 4.37%
Fannie Mae or Freddie Mac 3.50% 08/01/2049 N/A AA+u/Aaa 2.35%
United States Treasury Note/Bond 1.88% 06/30/2026 N/A AA+u/Aaa 1.93%
Fannie Mae or Freddie Mac 4.00% 08/01/2049 N/A AA+u/Aaa 1.85%

Holdings are subject to change and are not buy/sell recommendations.

Distributions | View All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
07/22/2019 07/23/2019 07/31/2019 0.11762 0.11762 - - -
06/24/2019 06/25/2019 06/28/2019 0.11007 0.11007 - - -
05/20/2019 05/21/2019 05/31/2019 0.11097 0.11097 - - -
04/22/2019 04/23/2019 04/30/2019 0.11405 0.11405 - - -
03/18/2019 03/19/2019 03/29/2019 0.12237 0.12237 - - -
02/19/2019 02/20/2019 02/28/2019 0.11853 - - - -
01/22/2019 01/23/2019 01/31/2019 0.15072 0.15072 - - -
12/26/2018 12/27/2018 12/31/2018 - - 0.62778 0.32827 -
12/24/2018 12/26/2018 12/31/2018 0.25108 0.25108 - - -
11/19/2018 11/20/2018 11/30/2018 0.15385 0.15385 - - -
10/22/2018 10/23/2018 10/31/2018 0.14267 0.14267 - - -
09/24/2018 09/25/2018 09/28/2018 0.17538 0.17538 - - -
08/20/2018 08/21/2018 08/31/2018 0.07240 0.07240 - - -
08/02/2018 08/03/2018 08/07/2018 0.14543 0.14543 - - -
07/03/2018 07/05/2018 07/09/2018 0.14427 0.14427 - - -
06/04/2018 06/05/2018 06/07/2018 0.12681 0.12681 - - -
05/02/2018 05/03/2018 05/07/2018 0.11356 0.11356 - - -
04/03/2018 04/04/2018 04/06/2018 0.13440 0.13440 - - -
03/02/2018 03/06/2018 03/08/2018 0.09230 0.09230 - - -
02/02/2018 02/06/2018 02/08/2018 0.11840 0.11840 - - -
12/28/2017 12/29/2017 01/02/2018 0.31770 0.19780 0.04120 0.07870 -
12/04/2017 12/05/2017 12/07/2017 0.09090 0.09090 - - -
11/02/2017 11/03/2017 11/07/2017 0.08570 0.08570 - - -
10/03/2017 10/04/2017 10/06/2017 0.11480 0.11480 - - -
09/01/2017 09/06/2017 09/08/2017 0.05820 0.05820 - - -
08/01/2017 08/03/2017 08/07/2017 0.06400 0.06400 - - -
07/03/2017 07/06/2017 07/10/2017 0.11920 0.11920 - - -
06/01/2017 06/05/2017 06/07/2017 0.10650 0.10650 - - -
05/01/2017 05/03/2017 05/05/2017 0.10870 0.10870 - - -
04/03/2017 04/05/2017 04/07/2017 0.14360 0.14360 - - -
03/01/2017 03/03/2017 03/07/2017 0.11340 0.11340 - - -
02/01/2017 02/03/2017 02/07/2017 0.16190 0.16190 - - -
12/28/2016 12/30/2016 01/04/2017 0.44400 0.13650 0.30750 - -
12/01/2016 12/05/2016 12/07/2016 0.11550 0.11550 - - -
11/01/2016 11/03/2016 11/07/2016 0.06880 0.06880 - - -
10/03/2016 10/05/2016 10/07/2016 0.11640 0.11640 - - -
09/01/2016 09/06/2016 09/08/2016 0.12830 0.12830 - - -
08/01/2016 08/03/2016 08/05/2016 0.12030 0.12030 - - -
07/01/2016 07/06/2016 07/08/2016 0.11740 0.11740 - - -
06/01/2016 06/03/2016 06/07/2016 0.11890 0.11890 - - -
05/02/2016 05/04/2016 05/06/2016 0.10940 0.10940 - - -
04/01/2016 04/05/2016 04/07/2016 0.09910 0.09910 - - -

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2019 61 52 1 0 0 0 0
12/31/2018 63 38 0 1 0 0 0
09/30/2018 63 36 0 0 0 0 0
06/30/2018 64 20 0 0 0 0 0
Year Ended 2018 251 134 2 1 0 0 0
    Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2019 61 7 1 0 0 0 0
12/31/2018 63 24 0 0 0 0 0
09/30/2018 63 27 0 0 0 0 0
06/30/2018 64 43 1 0 0 0 0
Year Ended 2018 251 113 1 0 0 0 0

Fund Inception: 02/10/2016

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.


 Risk & Other Information

† Credit ratings are assigned by Nationally Recognized Statistical Rating Organizations based on assessment of the credit worthiness of the underlying bond issuers. The ratings range from AAA (highest) to D (lowest) and are subject to change. Not rated indicates the debtor was not rated, and should not be interpreted as indicating low quality. Futures and other derivatives are not eligible for assigned credit ratings by any NRSRO and are excluded from quality allocations. For more information on rating methodologies, please visit the following NRSRO websites: standardandpoors.com and select "Understanding Ratings" under Rating Resources and moodys.com and select "Rating Methodologies" under Research and Ratings.

There are risks involved with investing in ETFs, including possible loss of money. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

The Fund is non-diversified and may experience greater volatility than a more diversified investment.

Mortgage- and asset-backed securities, which are subject to call (prepayment) risk, reinvestment risk and extension risk. These securities are also susceptible to an unexpectedly high rate of defaults on the mortgages held by a mortgage pool, which may adversely affect their value. The risk of such defaults depends on the quality of the mortgages underlying such security, the credit quality of its issuer or guarantor, and the nature and structure of its credit support.

Dollar roll transactions involve the risk that the market value and yield may decline below the price of the mortgage-related securities that have been sold and are required to be repurchased.

Risks of collateralized loan obligations include the possibility that distributions from collateral securities will not be adequate to make interest or other payments, the quality of the collateral may decline in value or default, the collateralized loan obligations may be subordinate to other classes, values may be volatile, and disputes with the issuer may produce unexpected investment results.

Convertible securities may be affected by market interest rates, issuer default, the value of the underlying stock or the right of the issuer to buy back the convertible securities.

Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.

An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer's credit rating.

The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.

The risks of investing in securities of foreign issuers, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

Issuers of sovereign debt or the governmental authorities that control repayment may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of default. Without debt holder approval, some governmental debtors may be able to reschedule or restructure their debt payments or declare moratoria on payments.

Because the Fund may invest in other investment companies, it's subject to the risks associated with the investment company and its investment performance may depend on the underlying investment company's performance. Moreover, the Fund and its shareholders will incur its pro rata share of the underlying investment companies' expenses, which will reduce the Fund's performance, and the purchase of shares of some investment companies.

Municipal securities are subject to the risk that legislative or economic conditions could affect an issuer's ability to make payments of principal and/ or interest.

Income generated from the Fund is based primarily on prevailing interest rates, which can vary widely over the short- and long-term. If interest rates drop, the Fund's income may drop as well. During periods of rising interest rates, an issuer may exercise its right to pay principal on an obligation later than expected, resulting in a decrease in the value of the obligation and in a decline in the Fund's income.

An issuer's ability to prepay principal prior to maturity can limit the Fund's potential gains. Prepayments may require the Fund to replace the loan or debt security with a lower yielding security, adversely affecting the Fund's yield.

The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.

Obligations issued by US Government agencies and instrumentalities may receive varying levels of support from the government, which could affect the fund's ability to recover should they default.

Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.

Swaps are subject to credit risk and counterparty risk.

A decision as to whether, when and how to use futures or options involves the exercise of skill and judgment and even a well-conceived futures transaction may be unsuccessful because of market behavior or unexpected events. The prices of options can be highly volatile and the use of options can lower total returns.

Investments in loans involve special types of risks, including credit risk, interest rate risk, counterparty risk and prepayment risk. Loans may offer a fixed or floating interest rate, generally below investment grade and may be unrated. Loans can be difficult to value accurately and may be more susceptible to liquidity risk than other fixed-income securities. Moreover, value of the collateral for the loan may be insufficient to cover the borrower's obligations should the borrower fail to make payments or become insolvent.

The Fund may engage in various investments or transactions that are designed to hedge a position the Fund holds. These hedges may not always be effective, can result in unexpected exposures and potential losses, and may adversely affect the Fund.

To Be Announced transactions involve the risk that the securities received may be less favorable than what was anticipated by the Fund when entering into the transaction or that a counterparty will fail to deliver the security, exposing the fund to further losses. Default or bankruptcy of a counterparty to a TBA transaction would expose the Fund to potential loss and could affect the Fund’s returns.

The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index considered representative of the US investment-grade, fixed-rate bond market.

as of 07/22/2019
12:07 PM EST

GTO
Intraday Stats

  • Last Trade $53.30
  • Current IIV $53.26
  • Change -$0.08
  • % Change -0.16%
as of 07/19/2019
  • NAV at market close $53.32

as of 07/19/2019

Fund Yield

  • SEC 30 Day Yield 2.73%
  • Distribution Rate 2.48%
as of 07/19/2019

Prior Close

  • Closing Price $53.38
  • Bid/Ask Midpoint $53.34
  • Bid/Ask Prem/Disc $0.02
  • Bid/Ask Prem/Disc 0.04%
as of 07/19/2019

Fund Characteristics

  • Effective Duration 5.72 yrs
  • Modified Duration 5.96 yrs
  • Yield to Maturity 2.93%
  • Yield to Worst 2.81%
  • Weighted Avg Life 9.48
  • Weighted Avg Coupon 2.13%
  • Weighted Premium/Discount -30.42%
  • Weighted Avg Price
    as of 07/19/2019
    0.00

Fund Details

  • Fund Ticker GTO
  • CUSIP # 46090A804
  • ISIN US46090A8045
  • Intraday NAV GTOIV
  • Management Fee 0.50%
  • Total Expense Ratio 0.52%
  • Fee Waiver 0.01%
  • Net Expense Ratio 0.51%
  • Options No
  • Exchange NYSE Arca
  • Inception Date 02/10/2016
  • # of Holdings 210
    as of 07/19/2019
as of 07/22/2019

Quick Facts

  • Previous Close $53.38
  • Open $53.29
  • Today's High $53.37
  • Today's Low $53.26
  • Today's Volume 7,618
  • 13,610 30-Day Avg Trading
    Volume
  • 52 Week High $53.54
  • 52 Week Low $48.62
  • Shares Outstanding 1.40MM
  • Market Value $74.7MM